Relaxation in timelines for compliance due to Covid-19

Relaxation in timelines for compliance with regulatory requirements by Debenture Trustees due to Covid-19

In view of the situation arising due to Covid-19 pandemic, challenges arising out of the local restrictions placed by various state governmentsand representations received from the Debenture Trustees, SEBI had earlier provided relaxations in timelines for compliance with certain regulatory provisions of SEBI Circular No. SEBI/HO/MIRSD/CRADT/CIR/ P/2020/230 dated November 12,2020 vide Circular no. SEBI/HO/MIRSD/CRADT/CIR/P/2021/561 dated May 03, 2021.
Further representations have been received from the Debenture Trustees wherein they have expressed the challenges faced in complying with the requirements withinthe applicable timelines due to the difficulty in information sharing, limited functioning of the various offices and travelling restrictions and imposition of lock down in most states due to Covid-19.
In view of the prevailing situation due to Covid-19 pandemic and representations received from the Debenture Trustees, it has been decided to extend the timelinesfor compliance with the following regulatory requirementsof the SEBI circular dated November 12,2020 for the quarter/half year/ year ending March 31, 2021, as under:
This circular is issued in exercise of the powers conferred upon SEBI under Section 11 (1) of the Securities and Exchange Board of India Act, 1992 read with the provisions of Regulation 2A of the Securities and Exchange Board of India (Debenture Trustees) Regulations, 1993to protect the interest of investors in securities and to promote the development of, and to regulate, the securities market.